Infosys FY 15 guidance of 7% to 9% revenue growth in USD terms is not very encouraging. We would expect other majors to show double digit revenue growth for FY 15 given that the US economy is on a slow but steady recovery path.
Infosys has gained 5.5% post its second quarter FY 2014-15 results on the back of the company performing above the market expectation. Infosys reported a 28.62% increase in the consolidated net profit to Rs.30,960 million from Rs.24,070 million on a year on year basis and an increase of 7.28% from Rs.28,860 million on a sequential quarter on quarter basis. The sales increased by 2.91% to Rs.1,33,420 million from Rs.1,29,650 million on a year on year basis and an increase of 4.48% from Rs.1,27,700 million on a sequential quarter on quarter basis. The company attributes the growth in sales and profitability to improvement in the global economic environment compared to previous year. The company added 49 clients and 14,255 employees (gross) during Q2FY15.
The dollar denominated consolidated net profit has shown an increase of 33.4% to USD 511 million from USD 383 million on a year on year basis and an increase of 6% from USD 482 million on a sequential quarter on quarter basis. The dollar denominated sales increased by 6.5% to USD 2.201 billion from USD 2.066 billion on a year on year basis and an increase of 3.1% from USD 2.134 billion on a sequential quarter on quarter basis. The average USD/INR rate for Q2FY15 period stands at Rs.60.63 per USD as compared to Rs.62.77 for Q2FY14.
The Company has declared an interim dividend of Rs.30 per share with the record date on 17th October 2014. The company has considered, approved and recommended a bonus issue of one equity share for every equity share held as on a record date to be determined.
The non US geographical segments have shown growth with North America growing by 3.1%, Europe growing by 4.2%, Rest of the World growing by 2.8% and India declining by 5.1% on a sequential quarter on quarter basis.